Stephens Inc. AR Purchases Shares of 565,354 Blue Owl Technology Finance Corp. $OTF

Stephens Inc. AR purchased a new stake in shares of Blue Owl Technology Finance Corp. (NYSE:OTF) during the 4th quarter, HoldingsChannel reports. The firm purchased 565,354 shares of the company’s stock, valued at approximately $8,220,000.

Other large investors have also added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new stake in Blue Owl Technology Finance during the 4th quarter valued at about $44,000. Cornerstone Partners Capital Management LLC purchased a new stake in Blue Owl Technology Finance during the 4th quarter valued at about $146,000. QP Wealth Management LLC purchased a new stake in Blue Owl Technology Finance during the 4th quarter valued at about $168,000. Norden Group LLC purchased a new stake in Blue Owl Technology Finance during the 4th quarter valued at about $169,000. Finally, PFG Investments LLC purchased a new stake in Blue Owl Technology Finance during the 4th quarter valued at about $170,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on OTF. Citizens Jmp dropped their price target on Blue Owl Technology Finance from $17.00 to $16.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 22nd. Keefe, Bruyette & Woods dropped their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 12th. Zacks Research cut Blue Owl Technology Finance from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Wells Fargo & Company decreased their price objective on Blue Owl Technology Finance from $13.00 to $12.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Truist Financial decreased their price objective on Blue Owl Technology Finance from $17.00 to $16.00 and set a “buy” rating for the company in a report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $14.00.

Insider Activity

In other Blue Owl Technology Finance news, Director Melissa Weiler purchased 10,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Wednesday, May 13th. The stock was bought at an average price of $10.90 per share, with a total value of $109,000.00. Following the acquisition, the director owned 10,000 shares of the company’s stock, valued at $109,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Chris Temple purchased 5,000 shares of Blue Owl Technology Finance stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $11.49 per share, with a total value of $57,450.00. Following the acquisition, the director directly owned 5,000 shares in the company, valued at $57,450. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 17,000 shares of company stock valued at $188,630. Insiders own 0.05% of the company’s stock.

Blue Owl Technology Finance Trading Down 0.2%

Shares of OTF stock opened at $11.14 on Friday. The firm has a market cap of $5.15 billion and a PE ratio of 12.38. The company has a 50-day moving average of $11.67. Blue Owl Technology Finance Corp. has a 52-week low of $10.67 and a 52-week high of $21.62.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.02). The company had revenue of $325.94 million during the quarter. Blue Owl Technology Finance had a net margin of 32.78% and a return on equity of 7.43%. During the same period in the previous year, the business posted $0.41 earnings per share. As a group, research analysts expect that Blue Owl Technology Finance Corp. will post 1.26 EPS for the current year.

Blue Owl Technology Finance Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be issued a $0.35 dividend. This is a boost from Blue Owl Technology Finance’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $1.40 annualized dividend and a dividend yield of 12.6%. Blue Owl Technology Finance’s payout ratio is presently 155.56%.

Blue Owl Technology Finance declared that its board has authorized a share repurchase program on Wednesday, February 18th that allows the company to repurchase $300.00 million in shares. This repurchase authorization allows the company to reacquire up to 5.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Blue Owl Technology Finance Profile

Blue Owl Technology Finance (NYSE: OTF) is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.

Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.